It’s been six months since the Shanghai Free Trade Zone opened for business. The pilot zone is aimed at driving forward economic reforms to improve China’s investment and trade environment.Lin Nan visited a Chinese logistics company in the zone.
Li Kuizheng is deputy director of Shanghai Tongsheng Logistics, based in the Shanghai Free Trade Zone. He’s on his way to the zone’s customs office to sign off the delivery of 25 tons of electrolytic copper imported from the US. Business happens fast here the company submitted its consignment application online. It got the go ahead from customs in less than 10 minutes.
A swipe of the scanner, and the truck goes through. Less than an hour later, the goods reach the company’s warehouse. Whentime always means money, the streamlining of customs procedures can only be a good thing.
So far, 47 companies have benefited from this change. Greater measures are now being promised, to maximize efficiency . In fact, reforms in customs processes in the Shanghai Free Trade Zone have saved companies a lot of time and money. Authorities hope some of the experiences in the pilot zone will be expanded to a larger scale to improve the investment and trade environment in the country.